Category: Commercial Laws

Supreme Court

The Supreme Court raps the Centre over the Tribunals Reforms Act, saying, “You are testing the patience of the court; you have no respect for our judgments.”

The Supreme Court raps the Centre over the Tribunals Reforms Act, saying, “You are testing the patience of the court; you have no respect for our judgments.” The Supreme Court chastised the Union Government on Monday for delaying the filling of vacancies in tribunals and for passing the Tribunals Reforms Act, which it described as

Acquisition

Videocon: Insolvency & Acquisition

What Happened? In December 2020, SBI filed an Insolvency petition filed against Videocon Industries Limited (Videocon). Later in that month, Videocon informed investors of approval by the Committee of Creditors (CoC) in a regulatory filing of a resolution plan as submitted by Twin-Star Technologies Limited. Twin Star Technologies is a limited company promoted by the

Illegal Termination

ILLEGAL TERMINATION

Introduction Illegal termination is not defined under any statutory provision. But it is defined as an act of firing an employee without any reasonable cause or; notwithstanding any provision related to the employment contract. Illegal termination involves the violation of  anti-discrimination laws and a contractual breach. For example an employee cannot be fired on the

insolvency

CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP) & it’s INITIATION

The Corporate Insolvency Resolution Process (CIRP) is defined as a recovery mechanism for the creditors’ benefits. The concept of CIRP is given under the Insolvency and Bankruptcy Code, 2016 (IBC). If in case, a corporate entity stands unable to pay debts (insolvent), then, the concerned creditor or the corporate entity may initiate for CIRP. The

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